SPARTANBURG ACADEMIC MOVEMENT
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$14,396,774
Contributions
87%
Government Grants
10%
Other
2%
Investments
1%
Program Services
<1%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$5,201,803
Salaries & Benefits
42%
Fees to Service Providers
27%
Other
11%
Grants
11%
Offices, Occupancy & IT
7%
Advertising & Promotion
2%
Depreciation
<1%
Benefits to Members
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$9,289,622
$12,476,133
+34%
Government Grants
$49,018
$1,423,716
+2804%
Fundraising Events
$0
$0
-
Program Services
$39,300
$64,759
+65%
Membership Dues
$0
$0
-
Investments
$122,187
$209,040
+71%
Other
-$471
$223,126
-47473%
Total Revenues
$9,499,656
$14,396,774
+52%
Expenses
2023
2024
Change
Grants
$303,108
$568,815
+88%
Benefits to Members
$0
$0
-
Salaries & Benefits
$842,760
$2,198,279
+161%
Fees to Service Providers
$875,135
$1,404,991
+61%
Advertising & Promotion
$11,236
$80,744
+619%
Offices, Occupancy & IT
$61,180
$338,759
+454%
Interest
$0
$0
-
Depreciation
$14,069
$33,940
+141%
Other
$348,563
$576,275
+65%
Total Expenses
$2,456,051
$5,201,803
+112%
Net income
2023
2024
Change
Net income
+$7,043,605
+$9,194,971
+31%
Functional Expenses
Summary
2023
2024
Change
Program
$2,313,336
$4,944,462
+114%
Admin
$83,781
$163,612
+95%
Fundraising
$58,934
$93,729
+59%
Total Expenses
$2,456,051
$5,201,803
+112%
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